The C-suite is a collection of executive positions in corporations and large organisations. Referred to roles include the Chief Executive Officer (CEO), Chief Operating Officer (COO), Chief Financial Officer (CFO) and Chief Information Officer (CIO). Each of these roles comes with unique responsibilities and opportunities.
To become a C-suite executive, individuals must demonstrate their expertise in the specific field. This may include having a deep understanding of the industry and its competitive landscape, being adept at strategic planning and problem-solving, and possessing strong leadership skills. It is also beneficial for executive candidates to have experience in both managerial and operational roles.
What are the top soft skills needed for an executive or senior role?
Executive and senior roles often require the highest level of expertise, organisation and leadership skills. To be successful in these positions, it is essential to have a broad range of soft skills, including strong communication, problem-solving and interpersonal abilities.
Executive and senior roles also need to take responsibility for their actions and decisions. Additionally, strong strategic planning skills, the ability to delegate tasks, and the capacity to develop relationships with key stakeholders are essential.
Executive and senior roles also require people to have a deep understanding of how the organisation fits into the overall business environment.
Finally, strong self-awareness, emotional intelligence, and a commitment to professional growth are also important soft skills for C-suite executives.
What benefits can senior executive candidates expect to be offered?
At the executive level, candidates can expect all or a combination of below:
Company performance-based bonuses and/or commissions
Short and/or long-term incentive plans or equity plans
Healthcare (Executive and family plan)
Pension contributions
Relocation package (if applicable)
Car/car allowances
Professional fees
Continuous professional development/education
Flexible & smart working practices
Unpaid leave or generous annual leave
What’s the difference between SMB and Enterprise benefit offerings for senior executives?
Enterprise and multinational companies have paved the way for generous benefits. But small to medium-sized businesses are rapidly adapting their offerings to draw top talent.
SMBs are focusing on creative Employee Value Propositions (EVP). And offer flexible working practices, health and wellness initiatives, continuous professional development, and equity/profits rather than stock options or RSUs, which Multinational Corporations (MNCs) may offer.
What flexible working arrangements can a senior executive candidate expect?
Flexible working is very much ingrained within the executive and senior appointments now, with most working within a hybrid model. In certain instances (predominately start-ups), executives may avail of a 100% remote working arrangement. We envisage a shift in this for 2023 as companies settle back into a new normal. It will very much depend on your industry as to which model works best.
How does company size affect senior executive salaries?
Larger enterprises tend to be incredibly competitive on salary. They tend to offer salaries in line with the market rate and are cognisant of inflationary pressures. SMEs may have slightly more flexibility in tailoring packages but can sometimes lack knowledge of market rates.
Size is not always an indicator of salaries; however, larger companies can offer greater rewards and benefits schemes. However, enterprises or MNCs can be restricted to predetermined salary ranges and grades.
SMBs can offer a more flexible approach due to the lack of structure in this space.
How do years of experience affect senior executive salaries?
Positively. Experience is generally well rewarded, and salaries improve as experience is gained. However, salary bands and grades can sometimes cause limitations in certain companies.
How does higher education or other learning and development affect senior executive salaries?
Many executives across all sectors have invested in continuous professional development and have upskilled by completing courses relevant to their industry/job function. Many executives will typically complete a leadership qualification in recognition of the expansive and shaping roles they have within organisations.
Education may be considered when deciding to bring the candidate forward to an interview at the initial stages of a process. It can influence their opportunity to progress, which will in turn affect candidates' ability to increase their salary.
What are the expected salary growth levels in senior executive roles?
Salaries are continuing to increase. Variations can be seen across different verticals.
· SMB: Slower growth considering the fact they often lack market intel. Yet they are often the most flexible or creative when faced with salary challenges.
· Enterprise: Increase in line with market rates. It can be competitive to attract the right talent.
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